Paylocity Holding Corporation $PCTY Shares Sold by Engineers Gate Manager LP

Engineers Gate Manager LP lessened its stake in Paylocity Holding Corporation (NASDAQ:PCTY) by 73.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 68,470 shares of the software maker’s stock after selling 192,524 shares during the quarter. Engineers Gate Manager LP’s holdings in Paylocity were worth $7,157,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. RFG Advisory LLC acquired a new position in Paylocity during the second quarter worth about $1,160,000. NewEdge Advisors LLC lifted its stake in Paylocity by 54.3% in the 2nd quarter. NewEdge Advisors LLC now owns 8,750 shares of the software maker’s stock worth $915,000 after acquiring an additional 3,081 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Paylocity by 499.5% in the 2nd quarter. IFP Advisors Inc now owns 1,181 shares of the software maker’s stock valued at $123,000 after purchasing an additional 984 shares during the period. Allworth Financial LP increased its holdings in shares of Paylocity by 83.7% in the 2nd quarter. Allworth Financial LP now owns 3,235 shares of the software maker’s stock valued at $338,000 after purchasing an additional 1,474 shares during the period. Finally, West Family Investments Inc. purchased a new stake in shares of Paylocity in the second quarter worth approximately $321,000. Institutional investors and hedge funds own 94.76% of the company’s stock.

Insiders Place Their Bets

In other Paylocity news, Director Kenneth Robinson sold 800 shares of the firm’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $158.41, for a total transaction of $126,728.00. Following the transaction, the director directly owned 6,745 shares in the company, valued at $1,068,475.45. This trade represents a 10.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Sarowitz sold 19,459 shares of the business’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $157.78, for a total value of $3,070,241.02. Following the completion of the sale, the director directly owned 4,453,495 shares of the company’s stock, valued at $702,672,441.10. This represents a 0.44% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,214 shares of company stock worth $8,322,580 in the last 90 days. 19.40% of the stock is owned by corporate insiders.

Paylocity Price Performance

Shares of PCTY opened at $141.66 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $7.52 billion, a PE ratio of 28.62 and a beta of 0.45. The firm’s 50 day moving average price is $140.06 and its 200 day moving average price is $119.13. Paylocity Holding Corporation has a twelve month low of $92.99 and a twelve month high of $172.21.

Paylocity (NASDAQ:PCTY) last posted its earnings results on Tuesday, August 4th. The software maker reported $1.84 EPS for the quarter, topping the consensus estimate of $1.62 by $0.22. Paylocity had a net margin of 15.23% and a return on equity of 27.02%. The company had revenue of $444.73 million during the quarter, compared to the consensus estimate of $431.46 million. During the same period in the previous year, the firm posted $1.56 earnings per share. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. As a group, research analysts expect that Paylocity Holding Corporation will post 6.92 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PCTY has been the topic of a number of research analyst reports. Zacks Research downgraded shares of Paylocity from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Jefferies Financial Group reiterated a “buy” rating and issued a $165.00 target price on shares of Paylocity in a research report on Wednesday, August 5th. TD Cowen lifted their target price on shares of Paylocity from $168.00 to $177.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. UBS Group boosted their price target on shares of Paylocity from $122.00 to $128.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Finally, Wall Street Zen downgraded shares of Paylocity from a “buy” rating to a “hold” rating in a research note on Saturday, July 4th. Twelve equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $160.53.

Paylocity Profile

Paylocity Holding Corporation is a provider of cloud-based human capital management (HCM) and workforce management software. Its platform is designed to help organizations manage payroll, human resources, employee benefits, talent, compliance and workforce operations through a unified system.

The company’s products and services include payroll processing, time and labor management, benefits administration, recruiting, onboarding, performance management, employee surveys and workplace communication tools.